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. >>> between fiscal cliff talks and global economic recovery, business stories will continue to dominate the headlines as we head into the new year but there was also a lot to talk about in the last year. we recap the top business stories of 2012. >> reporter: the economy continued its slow recovery with help from the rebounding housing markets. both sales and prices increased. >> buyers are coming back. >> reporter: five major banks agreed to a $25 billion settlement for unfair mortgage practices. the ceo of jpmorgan chase has revealed a trading loss that cost the bank more than $6 billion. we made a mistake. i'm absolutely responsible. the buck stops with me. >> reporter: facebook cheered as its stock became available to the public. shares dropped quickly, eventually sliding into the 20s. the broader stock market gained ground. though wall street worried debt troubles overseas could cause a collapse of the european banking system. >> that could be very, very ugly. >> reporter: severe weather took a toll on the nation's economy. the drought scorched 80% of u.s. farmland. >> it is in a w
. >>> between fiscal cliff talks and global economic recovery, business stories will continue to dominate the headlines as we head into the new year but there was also a lot to talk about in the last year. we recap the top business stories of 2012. >> reporter: the economy continued its slow recovery with help from the rebounding housing markets. both sales and prices increased. >> buyers are coming back. >> reporter: five major banks agreed to a $25 billion...
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. >>> a bleak outlook for avoiding the fiscal cliff. with the new year approaching washington's failure to reach a compromise is affect americans' confidence. taxes will go up on january 1st if they don't reach a deal. >> i've asked leaders of congress to work toward -- it protects unemployment insurance for 2 million americans, and laze the groundwork for further work on both growth and deficit reduction. >> the president's solution of raising tax rates would still be ready as far as the eye can see and hurt jobs. >> president obama said he will cut his hawaiian vacation short to hammer out a deal with congress with the deadline a short week away. >>> 5:18 now. >>> the nra is adamant about its idea of placing armed guards in the nation's schools. >> this comes as diane fine stein promises to introduce new gun control legislation in the new year. the head of the nra put the game on violent video games and problems with the mental health system insisting another assault weapons ban is not the answer. >> it doesn't work. diane fine stein
. >>> a bleak outlook for avoiding the fiscal cliff. with the new year approaching washington's failure to reach a compromise is affect americans' confidence. taxes will go up on january 1st if they don't reach a deal. >> i've asked leaders of congress to work toward -- it protects unemployment insurance for 2 million americans, and laze the groundwork for further work on both growth and deficit reduction. >> the president's solution of raising tax rates would still be...
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Dec 24, 2012
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lawmakers try to strike a deal to avoid the fiscal cliff. congress and the president on holiday break. some senators are expressing concern that a deal won't be met. if that happens households between 50 and 75,000 will see their taxes increase nearly $2400. households between half a million and a million would see an increase of $39,000. >>> as americans hit the road for holiday travel they'll be paying less at the gas pump. according to aaa, the national average is about $3.25 for a gallon of regular. that's down from a month ago >>> one item has made a big impact this holiday season. shoes are a top seller. the npd says the shoes are the most popular gift this season. experts say the trend makes sense because americans tend to give more practical gifts during economic downturns. send it back to you. >> erica ferrari. >> all right, erica. thanks. >> last check. >> santa is over the great wall of that. >> that's good timing. >> a billion and 100 million gifts already delivered. >> a billion -- i hope that's oneless for me. >> have you been
lawmakers try to strike a deal to avoid the fiscal cliff. congress and the president on holiday break. some senators are expressing concern that a deal won't be met. if that happens households between 50 and 75,000 will see their taxes increase nearly $2400. households between half a million and a million would see an increase of $39,000. >>> as americans hit the road for holiday travel they'll be paying less at the gas pump. according to aaa, the national average is about $3.25 for a...
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Dec 24, 2012
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cliff. >> a senator from idaho is apologizing for his dui arrest. police stopped republican mike crapo in alexandria, virginia. >> after 80 years in print, "newsweek" magazine has its last issue on stands today. it will continue its digital format. >> if you haven't finished your holiday shopping, don't worry. millions of americans are expected to hit the store today. >> i have just started. >> i looked at the research footage and looked at your face quite a bit. you don't look a day over than you did 32 years ago. >> wide open with the catch. what a shot. seahawks win it, seattle is in the playoffs. >> and all that matters. >> norad will be tracking santa claus as he makes his way around the world delivering gifts to girls and boys tonight. >> on "cbs this morning." >> from kabul, afghanistan, happy holidays! "cbs this "cbs this morning." >>> welcome to "cbs this morning." i'm jeff glor with rebecca jarvis charlie rose. gayle king and norah o'donnell are off. >>> on the ground and in the ai
cliff. >> a senator from idaho is apologizing for his dui arrest. police stopped republican mike crapo in alexandria, virginia. >> after 80 years in print, "newsweek" magazine has its last issue on stands today. it will continue its digital format. >> if you haven't finished your holiday shopping, don't worry. millions of americans are expected to hit the store today. >> i have just started. >> i looked at the research footage and looked at your face...
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that is a great new year's resolution. >> there are lots of cuts if we go off the fiscal cliff. lack of unity and vision there --. gregg: talking about this in the last hour, mark. but i want to put it to you. the president campaigned. he said i want to raise rates on everybody who make over 250. and you do the math and it's been done by all kinds of economists and cbo. >> many people voted for that. gregg: comes to $800 billion mark. so suddenly the president's reelected and immediately doubles it, now i want 1.6 trillion. >> psych, sorry. we'll change rules because i won. crossing my fingers behind my back. changed the rules. gregg: go ahead, mark. how do you figure that the president, you know, said i want 800 billion. now all of sudden i want twice that much. >> the president said that refering to income taxes the now that we're facing sort of debt problem that we're facing, the president is getting serious about other types of revenue, including loopholes. loopholes many wealthy americans benefit from and middle class americans don't have advantage of benefiting from. a lot
that is a great new year's resolution. >> there are lots of cuts if we go off the fiscal cliff. lack of unity and vision there --. gregg: talking about this in the last hour, mark. but i want to put it to you. the president campaigned. he said i want to raise rates on everybody who make over 250. and you do the math and it's been done by all kinds of economists and cbo. >> many people voted for that. gregg: comes to $800 billion mark. so suddenly the president's reelected and...
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david kerley, abc news, washington. >>> and washington's other major problem is the fiscal cliff and yet no resolution just yet. the deadline for heading off tax hikes and spending cuts is now one week away. congress returns from a short holiday break on thursday and at least one senator expects negotiations to go up until new year's eve. one possibility is a partial deal on taxes and putting off spending for later. >>> also new insight this morning into mitt romney's failed run for the white house. comments coming now from his eldest son. tag romney tells "the boston globe" that his dad never actually wanted the top job and he was reluctantly convinced to run for president. "he wanted to be president less than anyone i've met in my life" is what tag said, direct quote. he went on to say that his father is a very private person who simply does not like attention. that's a stunning remark, the money, the time, the scheduling, the scrutiny, the investment. the people around you who come along for the ride. if you don't really want it, why would you jump and devote two years of your lif
david kerley, abc news, washington. >>> and washington's other major problem is the fiscal cliff and yet no resolution just yet. the deadline for heading off tax hikes and spending cuts is now one week away. congress returns from a short holiday break on thursday and at least one senator expects negotiations to go up until new year's eve. one possibility is a partial deal on taxes and putting off spending for later. >>> also new insight this morning into mitt romney's failed...
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fiscal cliff. here is what it is. extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out next month and delay the sequester of $110 billion in spending cuts next year. for all of the talk of $4 trillion in debt reduction this plan would only save $800 billion over ten years. senator conrad is that the best that washington can do over the next nine days and can you pass even that? >> look, chris, it may come to that but we can do better. and we should do better. this is an opportunity to do something that would be hugely important for the country. i mean my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the $1.1 trillion that has already been done and that would be close to the $4 trillion we are needed to stablize the debt and to begin to bring it down and then if you wanted to a
fiscal cliff. here is what it is. extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out next month and delay the sequester of $110 billion in spending cuts next year. for all of the talk of $4 trillion in debt reduction this plan would only save $800 billion over ten years. senator conrad is that the best that washington can do over the next nine days and can you pass even that? >> look, chris, it may come to...
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. >>> pulling the nation back from the fiscal cliff why congress may be selling the new year on capitol hill. >> first america's money report. >>> good morning. topping america's money, last minute shopping, many shoppers haven't finished. consumer reports says 17 million will be shopping today, more than 60% will throw in the towel and get those gift cards. so far, a quiet holiday season at the malls, analysts say shoppers are worried about the budget stalemate in washington delayed by superstorm sandy and depressed by the connecticut school shooting. retailers hope today will make up for that many federal workers have more time to shop, president obama gave them today off, many government offices are closed. financial markets closing early as are most post offices. the hobbit topped box office again for the second straight weekend, it took in 37 million dollars more than double any other movie even though many did their last minute shopping instead that's . >>> just about 5:14 thank you spore spending your christmas eve with us. live look towards san francisco, beautiful lights, bay,
. >>> pulling the nation back from the fiscal cliff why congress may be selling the new year on capitol hill. >> first america's money report. >>> good morning. topping america's money, last minute shopping, many shoppers haven't finished. consumer reports says 17 million will be shopping today, more than 60% will throw in the towel and get those gift cards. so far, a quiet holiday season at the malls, analysts say shoppers are worried about the budget stalemate in...
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our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it comes to tax increases. that was last week. >> dana, you were saying that when you were reporting on it when it was breaking that evening, you called that devastating for john boehner. now that hou
our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of...
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. >>> dire new prediction one d.c. lawmaker one week from the fiscal cliff. >>> welcome back. let's take a look at live doppler and satellite, a few radar returns over the ocean, a few clouds dry everywhere this morning. clouds getting thick in the form of fog around napa. getting a break our next system the screen to our west that means today is about it as far as dry weather. low to mid 40s through the morning, low to mid 50s from noon to 4:00, partly cloudy, babble in the low to mid 40s by 7:00 under a partly cloudy sky. >>> keeping an eye on the commute this morning, skardzly a commute to speak of. >> very few cars but still problems. this westbound 80 at university avenue in the berkeley area, there is an accident reported there it has been moved to the median or it is in the median and maybe causing delays there. another look 120 within between 116 and 37 in the north bay -- flooding there and we are told 121 is closed in that area start thinking about alternate routes. also 101 heading into san francisco from marin county, live shot, headlights heading towards us, guess
. >>> dire new prediction one d.c. lawmaker one week from the fiscal cliff. >>> welcome back. let's take a look at live doppler and satellite, a few radar returns over the ocean, a few clouds dry everywhere this morning. clouds getting thick in the form of fog around napa. getting a break our next system the screen to our west that means today is about it as far as dry weather. low to mid 40s through the morning, low to mid 50s from noon to 4:00, partly cloudy, babble in the...
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and the round table or the president's priorities in the new year. that's all ahead. fiscal cliff. fiscal cliff. whatirping ][ cellphon [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. how much is your current phone bill? four sixteen seventy six a month! okay, come with me -- we're gonna save you money. with straight talk at walmart, you get unlimited talk, text and data for only $45 a month per phone. would we get the same coverage? same coverage on america's best networks. you saved $146.76 by switching to straight talk. awesome! now you can afford to share your allowance with me. get the season's hottest smartphones like the samsung galaxy s2 and get straight talk with unlimited data for just $45 a month -- from america's gift headquarters. walmart. ♪ >>> since we announced we were going to have the nra's wayne lapierre on the program, we received so much feedback on lin
and the round table or the president's priorities in the new year. that's all ahead. fiscal cliff. fiscal cliff. whatirping ][ cellphon [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. how much is your current phone bill? four sixteen seventy six a month! okay, come with me -- we're...
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there's he hope a deal will be cut before new year's to avert the fiscal cliff by extending tax cuts temporarily or tax cuts from people under $250,000 of income. i spoke this morning to a republican member of congress who said, we still can come back next week, and we can still do it, although, you know, mara was talking in her piece about shoppers who think they get a better deal the longer they wait. it's a worse deal for the republican party having waited this long, having gotten beaten on the plan b that speaker boehner was trying to do. the terms are getting worse for republicans, not better. >> a lot of people watching this will say if congress couldn't reach a grand bargain with a self-imposed deadline, this so-called fiscal cliff, when will they ever get together and do something big? is there hope beyond the 31st and 1st of this year that eventually there will be a big deal? >> well, i've always been perhaps excessively optimistic about this, but i think, yes. look, members of congress understand that we have a long-term fiscal problem. they have different visions for how t
there's he hope a deal will be cut before new year's to avert the fiscal cliff by extending tax cuts temporarily or tax cuts from people under $250,000 of income. i spoke this morning to a republican member of congress who said, we still can come back next week, and we can still do it, although, you know, mara was talking in her piece about shoppers who think they get a better deal the longer they wait. it's a worse deal for the republican party having waited this long, having gotten beaten on...
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they continue to focus on the fiscal cliff. more americans are getting a better handle on their debt. the "wall street journal" reports u.s. households spent just over 10% in the third quarter of the year. that is the lowest level since 1983, according to the federal reserve. while the ultimate procrastinators are hitting stores today, retailers are also bracing for a busy day on wednesday. industry watchers say the lines were returning gifts will be as long, if not longer, then the lines consumers had to buy the things in the first place. that is the latest from the fox business network. giving you the power to prosper. ♪ lori: how has the franchise industry than coping with the fiscal uncertainty coming out of washington? joining us now is nick powell. welcome. >> thank you. thank you for having me. lori: i have to imagine this is probably one of the most difficult times. what do you think? >> well, it is obviously dependent on the way you look at the statistics. i think it is a great opportunity to get into the franchise m
they continue to focus on the fiscal cliff. more americans are getting a better handle on their debt. the "wall street journal" reports u.s. households spent just over 10% in the third quarter of the year. that is the lowest level since 1983, according to the federal reserve. while the ultimate procrastinators are hitting stores today, retailers are also bracing for a busy day on wednesday. industry watchers say the lines were returning gifts will be as long, if not longer, then the...
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the new year and the so-called fiscal cliff. for the record, though, it's about 178 hours away if we're getting down to the wire. that's specifically. how much negotiating can be squeezed in to that little bit of time? >>> new numbers on whether exist consumers are buying less. >>> and just in time for the holiday, a christmas storm expecting to hit the midwest. when, where and how much snoi is expected. we bring the answers in minutes. >>> we start with optimism as a last words that comes to mind with the fiscal cliff and with just a week left for talks left, la lawmakers are saying a deal is looking less likely than ever. >> it's a first time i feel it's more likely that we'll go over the cliff than not. and that -- if we allow that to happen it will be the most coloss colossal, consequential act of congressional irresponsibility in a long time. maybe ever in american history because of the immaterial pact on almost every single american. >> what will happen to an average american paycheck in a deal is not reached by january 1
the new year and the so-called fiscal cliff. for the record, though, it's about 178 hours away if we're getting down to the wire. that's specifically. how much negotiating can be squeezed in to that little bit of time? >>> new numbers on whether exist consumers are buying less. >>> and just in time for the holiday, a christmas storm expecting to hit the midwest. when, where and how much snoi is expected. we bring the answers in minutes. >>> we start with optimism as a...
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as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p 500 climbed 13. the nasdaq has jumped 16%. >>> reports are due this week on pending home sales. sales of new homes and a look at home prices in the nation's 20 largest cities. >>> are you still not sure what to get for the person who has everything? new retail numbers show footwear was the fifth most popular gift on shoppers' lists on black friday. a year ago, shoes didn't even make it into the top ten gifts for the season. >>> good news for hollywood. attendance by moviegoers is up more than 5.5% so far this year. ticket revenue is projected to jump by 6% by the end of 2012 which would be the industry's biggest
as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p...
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let me show you some news, the headline on avoiding the so- called fiscal cliff. here is "the new york times" frontpage. the headline -- that is "the new york times" reporting. inside the paper, they say democratic leaders say they will move forward on legislation this week only a senator mitch mcconnell of kentucky, the republican leader, will assure them it will not be filibustered -- investors anticipate a turbulent week in the market of congress and the white house continued the standout. i also note that mr. mcconnell's own reelection bid is coming in 2014. the borrower review of the nothing to shift the anger of some self assessment of the speaker does nothing to pass it does go to the floor. the bill is not moving along, says bob corker from tennessee. here is what the republican from idaho had to say about the fiscal cliff negotiation. [video clip] >> if we get down to the end of the year and the only choice we have is to save taxes going up on the middle-class, i would support that. but i wish we had a comprehensive bill that dealt with spending, entitlem
let me show you some news, the headline on avoiding the so- called fiscal cliff. here is "the new york times" frontpage. the headline -- that is "the new york times" reporting. inside the paper, they say democratic leaders say they will move forward on legislation this week only a senator mitch mcconnell of kentucky, the republican leader, will assure them it will not be filibustered -- investors anticipate a turbulent week in the market of congress and the white house...
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what happens after the 1st of january to the markets if we go over the fiscal cliff? >> well, you know, it's -- you're going to see a sell off because it's going to be a hit on earnings. you always have to look at the news stories and does that affect forecasted earnings or interest rates? and this does all of that so this will be a negative on the stock market. forecasts are anywhere from a 10 to 15% drop in the stock market based on earnings expectations and hit to earnings. this will be devastating to the economy, to the stock market and it needs to be, it doesn't look like it's going to happen, david. it looks like we're going to get a little bit of extension it it of the tax, the bush tax credits or the bush tax cuts and see unemployment benefits, you know, extended for about 2 million people. and as a result, we're going to see a lot of discussion and little results except higher taxes, that's for sure. >> and one thing that surprised me, we know that taxes will remain the same until the end of the year. we assume that taxes are going to go up after the first of
what happens after the 1st of january to the markets if we go over the fiscal cliff? >> well, you know, it's -- you're going to see a sell off because it's going to be a hit on earnings. you always have to look at the news stories and does that affect forecasted earnings or interest rates? and this does all of that so this will be a negative on the stock market. forecasts are anywhere from a 10 to 15% drop in the stock market based on earnings expectations and hit to earnings. this will...
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is he doing other work that might bring him back to bring us back from the fiscal cliff. might we see him before the new year? >> i think it is almost a -- it is very likely the president will interrupt the vacation. it is around the session in december. he is unlikely to stay here in hawaii. in the meantime trying to get in family time. it is that vacation will be interrupted. >> hopefully with downtime you have time to hike diamond head in my honor. enjoy. >> it is great. beautiful. >> merry christmas. >> a developing story from last night the marine now back on u.s. soil. he has been on a car driving home to florida coming into texas. now a health scare prompting a detour on that road home. he is hospitalized tonight. what we are learning about john ham ar's condition. >> another american goes free after a nightmarish ordeal. this missionary kidnapped while doing god's work. the family who thought they might not ever see again. >> stay with us. >> we have been following john hammar's story and he is the 27-year-old marine combat veteran back on u.s. soil finally this w
is he doing other work that might bring him back to bring us back from the fiscal cliff. might we see him before the new year? >> i think it is almost a -- it is very likely the president will interrupt the vacation. it is around the session in december. he is unlikely to stay here in hawaii. in the meantime trying to get in family time. it is that vacation will be interrupted. >> hopefully with downtime you have time to hike diamond head in my honor. enjoy. >> it is great....
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the looming fiscal cliff means uncertainty for the economy in the new year. here is steve liesman with a preview of what he expects in 2013. >> trying to figure out what's going to happen in 2013 depends on one very important development. whether the u.s. goes over the fiscal cliff in a few days' time. and, for how long. if it's avoided, there's considerable upside for the economy. we could see at least one, and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment under the uncertainty, unleashing business spending would add to the growth from the rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, and people come into the workforce will be discouraged but then it could start to fall. as for the fed i think the market may be overstating its expectation for asset purchases from the central bank in 2013. at the current pace t
the looming fiscal cliff means uncertainty for the economy in the new year. here is steve liesman with a preview of what he expects in 2013. >> trying to figure out what's going to happen in 2013 depends on one very important development. whether the u.s. goes over the fiscal cliff in a few days' time. and, for how long. if it's avoided, there's considerable upside for the economy. we could see at least one, and maybe two quarters of growth above 3%. the kind of growth that would put...
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suppose the fiscal cliff gets resolved quickly without wrecking the economy. i think washington is the only thing standing in the way of a worldwide surge in growth and profits. not just in stocks but also in real estate. if you take washington out of the equation -- my job would be so much fun. blackstone should zoom higher. first off, if the fiscal cliff does get resolved people will pull money out of bonds. they should pull them out of bonds any way because deal if small will be inflationary. they're more likely to invest in aggressive alternatives with higher assets under management. for those of that you don't know, the private equity where you buy companies using borrowed money and you fix them up and flip them a few years later by taking them public. over the past two years, blackstone brought eight private companies in its portfolio public and in the next 12 months, they plan on doing another eight. it goes without saying that if we're in a bull market next year, blackstone will be able to realize much higher price which is it brings companies that it
suppose the fiscal cliff gets resolved quickly without wrecking the economy. i think washington is the only thing standing in the way of a worldwide surge in growth and profits. not just in stocks but also in real estate. if you take washington out of the equation -- my job would be so much fun. blackstone should zoom higher. first off, if the fiscal cliff does get resolved people will pull money out of bonds. they should pull them out of bonds any way because deal if small will be...
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is she hopeful that a fiscal cliff deal will be struck before the new year? (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've got coastline to explore and wildlife to photograph. and there's world class dining with our world famous seafood. so for a great vacation this year, come to the gulf. its all fabulous but i give florida the edge. right after mississippi. you mean alabama. say louisiana or there's no dessert. this invitation is brought to you by bp and all of us who call the gulf home.
is she hopeful that a fiscal cliff deal will be struck before the new year? (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time...
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here we are on the doorstep after new year and the economy falling off the fiscal cliff. as a result businesses and individuals are facing some of the biggest uncertainties and questions in decades. regardless of what congress does or doesn't do to deal with the year-end fiscal cliff, it is too late for employers to accurately withhold income taxes from paychecks. payroll increases start january 1. but talks drag on of how to ad
here we are on the doorstep after new year and the economy falling off the fiscal cliff. as a result businesses and individuals are facing some of the biggest uncertainties and questions in decades. regardless of what congress does or doesn't do to deal with the year-end fiscal cliff, it is too late for employers to accurately withhold income taxes from paychecks. payroll increases start january 1. but talks drag on of how to ad
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allie rasmus ktvu channel 2 morning news. >>> the deadline for the fiscal cliff is just one week away. they are waiting for a small patch rather than a large fix. president barack obama is on vacation and so is house speaker john boehner and there is no agreement and if we go over the cliff, most americans will see higher taxes. >>> a police woman shot and killed an american security adviser. it happened inside the heavily guarded area. the shooting appears to be an insider attack and authorities say this is the first such attack by a woman and was arrested by afghan police. >>> they are dealing with the rising number of homicides and one city now is also known for its violence. police say 18 people have been killed so far which is down from 43 years ago. the city declared a state of emergency after a deadly summer in 2005. >>> they plan on conduct being several checkpoints from hours from now. they canceled one in fremont and drunk driving is made worse when there are heavy rains like the ones we had over the weekend. they were just three from the same timeframe when skies are clear.
allie rasmus ktvu channel 2 morning news. >>> the deadline for the fiscal cliff is just one week away. they are waiting for a small patch rather than a large fix. president barack obama is on vacation and so is house speaker john boehner and there is no agreement and if we go over the cliff, most americans will see higher taxes. >>> a police woman shot and killed an american security adviser. it happened inside the heavily guarded area. the shooting appears to be an insider...
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. >> do you think we're going to manage to see some type of a resolution on the fiscal cliff? we're seeing a lot of finger pointing now and hearing from both sides saying it's in the other side's interest to delay these negotiations. >> i've had conversations with people in new york and working on trade floors. what i've been told by them is there is a huge number of meetings going on around closed doors avoiding all cameras. there has to be a solution. both parties would be blamed if they didn't have a solution. so we know there's going to away solution. it's just what solution is it going to be? >> is it fair to say a grand bargain is off the table? >> or maybe a solution for a few months just to keep it going pap complete collapse is not acceptable. it's not an option. but maybe prolonging this for another three or four months and maybe having longer discussions about it may be the only solution they can come to. >> we're talking about how taxes could potentially go up for 98% of americans. is it going to be an issue of if and when that happens, if they don't reach even a s
. >> do you think we're going to manage to see some type of a resolution on the fiscal cliff? we're seeing a lot of finger pointing now and hearing from both sides saying it's in the other side's interest to delay these negotiations. >> i've had conversations with people in new york and working on trade floors. what i've been told by them is there is a huge number of meetings going on around closed doors avoiding all cameras. there has to be a solution. both parties would be blamed...
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cliff will be? as we remember, this is really more of a fiscal slope. employers have already baked in the 2011 tax rates, for instance, for january, the recession is not expected to hit for six months. is this what democrats are doing you think? >> no. i think democrats have made the case for two years now in order to deal with our fiscal situation that we need to have a balanced approach. that balanced approach has to include revenues. and the people who have done very well over the last ten years, 1% or 2% of the population, they need to contribute a little more to that restructuring of our deficit situation. so i don't think this is political at all. the politics ended on election day. the president made his case, he made it very clearly. there is no doubt as to what was at stake in that election and the president was elected overwhelm lig. so the politics are over. now we're trying to govern the country and i think that's, at least in the house. >> congressman, i got to speak with you twice over
cliff will be? as we remember, this is really more of a fiscal slope. employers have already baked in the 2011 tax rates, for instance, for january, the recession is not expected to hit for six months. is this what democrats are doing you think? >> no. i think democrats have made the case for two years now in order to deal with our fiscal situation that we need to have a balanced approach. that balanced approach has to include revenues. and the people who have done very well over the last...
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cliff? might we see him before the new year? >> oh, i think it's almost a guarantee at this point. he'll be working the phones here in hawaii and he saw senator reed today at the memorial service, but told by white house aides it's likely the president will interrupt this vacation shortly after christmas and get back to congress washington on the 27th of december. because with this looming deadline at the end of the year unlikely to stay here in hawaii and in the meantime, trying to get in family time and a little golf and is now on a hike with the first family. but there's the big budget crisis. >> harris: hopefully with down time you get to hike diamondhead, it's great. >> good to see you. >> harris: a developing story last night on fox report. that marine held behind bars in mexico for months now back on u.s. soil. you know that, he's been in a car driving home to florida from coming across the border in texas. with his dad. he's not home yet and now a health scare prompting a detour on t
cliff? might we see him before the new year? >> oh, i think it's almost a guarantee at this point. he'll be working the phones here in hawaii and he saw senator reed today at the memorial service, but told by white house aides it's likely the president will interrupt this vacation shortly after christmas and get back to congress washington on the 27th of december. because with this looming deadline at the end of the year unlikely to stay here in hawaii and in the meantime, trying to get...
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or as the fiscal cliff comes nearer and the u.s. goes over it. >> can we expect any other lawmakers to step up to the plate and kick start negotiations? what about senate minority leader mitch mcconnell? >> well, the thing at this point and i'm told by sources is that there are no negotiations going on between senator mitch mcconnell, the republican leader in the senate, and senator majority leader harry reid in hawaii for the funeral of daniel inouye and is now back to washington. it would come down to the senate doing something. senator mcconnell might allow this bill i mentioned that i already passed in july, was a threshold for tax hikes, being at the $250,000 level, he may allow democrats to say, the house has to take this, or if there is some sort of vote on another measure, while mitch mcconnell would be unlikely to support it, perhaps he might let some of his republican senators do that, now, this is sort of thinking, coming from democrats, this is not something that mitch mcconnell at this point is planning to do, and it's
or as the fiscal cliff comes nearer and the u.s. goes over it. >> can we expect any other lawmakers to step up to the plate and kick start negotiations? what about senate minority leader mitch mcconnell? >> well, the thing at this point and i'm told by sources is that there are no negotiations going on between senator mitch mcconnell, the republican leader in the senate, and senator majority leader harry reid in hawaii for the funeral of daniel inouye and is now back to washington....
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cliff. he's due in court january 4. >>> mitt romney's son is making news after an interview he gave to "the boston globe" this weekend. tag romney, who played a major role in the campaign said "he wanted to be president less than anyone i've met in my life." he also said his dad had no desire to run again after falling short in 2008. but was pushed into it by a weak republican field. >>> to the weather now. meteorologist chuck bell is here, talking about some rain for christmas eve. chuck, is it going to be all rain or will some of it be of the frozen variety? >> jim, that is the $64,000 question. i think most locations, especially north and west of i-95, will see at least some small amount of sleet. the steadier sleet will be well out to the north and west, in the mountains of west virginia. the moisture is coming out of the deep south and it's reached as far north as the kentucky and north carolina and tennessee boarders with virginia. this is all inbound rain. it's not going to get here a
cliff. he's due in court january 4. >>> mitt romney's son is making news after an interview he gave to "the boston globe" this weekend. tag romney, who played a major role in the campaign said "he wanted to be president less than anyone i've met in my life." he also said his dad had no desire to run again after falling short in 2008. but was pushed into it by a weak republican field. >>> to the weather now. meteorologist chuck bell is here, talking about...
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congress and the president are in the middle of these fiscal cliff and there's no agreement in sight on that. so the idea that congress could suddenly put forward a lot of extra money for something new is not very real in washington. obviously, guns will be on the agenda next year. the president will be pushing for something very different than what wayne lapierre recommended but the national rifle association very powerful and they will have supporters for it as well. >> it seems that everything fell apart right before law makers left for christmas break. boehner's plan b didn't go over so well. >> it didn't go anywhere. and it was interesting because it looked like in the days before that that there had been some movement. president obama had changed his offer and they're really not that far apart on the actual numbers. speaker boehner could not get it through the house. he had to pull the bill. they seemed further apart. if he can't get it for the millionaire's tax, it will be very, very hard to see how we can get president obama to cut taxes for the $50,000 and below. -- $25078,0
congress and the president are in the middle of these fiscal cliff and there's no agreement in sight on that. so the idea that congress could suddenly put forward a lot of extra money for something new is not very real in washington. obviously, guns will be on the agenda next year. the president will be pushing for something very different than what wayne lapierre recommended but the national rifle association very powerful and they will have supporters for it as well. >> it seems that...
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>> as with the fiscal cliff it doesn't appear readily discernable, lou. prident obama released a video message vowing to fight for new gun control laws early next year. the down tours of this debate are already taking shape as leading democrats are pressing for renewed assault weapons ban and for new limit on semitick ammunition magazines. a leading senate democrat says she favored schools being allowed to have armed guards if they so choose but she then cited the columbine massacre. >> in fact there were two armed law enforcement officers who twice engaged the shooters at column bind. that didn't prevent 15 from being killed and 23 wounded. >> however opponents of the assault weapons ban say that law was also in effect when columbine occurred and failed to prevent it. lou? lou: james, thank you. it is ex-orlando nary proposal comes from the national rifle association, a straightforward, simple and likely highly effective proposal. certainly to, going to be part of that debate. james rosen, as always, thank you very much. >> thank you, lou. lou: president
>> as with the fiscal cliff it doesn't appear readily discernable, lou. prident obama released a video message vowing to fight for new gun control laws early next year. the down tours of this debate are already taking shape as leading democrats are pressing for renewed assault weapons ban and for new limit on semitick ammunition magazines. a leading senate democrat says she favored schools being allowed to have armed guards if they so choose but she then cited the columbine massacre....
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apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >>> a united states senator was arrested for drunk driving early sunday morning. idaho republican mike crapo was taken to jail in alexandria, virginia, after midnight. he was stopped for running a red light and charged with driving under the influence. senator crapo has issued an apology. he was released on $1,000 bond and he has a court date. >>> christmas, two days away, and for much of the country it's going to be a white one. heavy snowfall has blanketed several states, in the mountains of california up to five feet of snow is expected. snow is also falling back east as well. lake-effect snow has blanketed areas around cleveland and buffalo. high winds are threatening to delay flights at airports in new york, philadelphia and washington. >>> i ha
apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >>> a united states senator was arrested for drunk driving early sunday morning. idaho republican mike crapo was taken to jail in alexandria, virginia, after...
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of the driving force was the fiscal cliff. expect low trading volume with wall street closing at 10:00 a.m. our time, 1:00 p.m. on the east coast. we will watch and wait. >> it is crunch time for last-minute shopping as you know. and you better know. this deadline is firm if you are still looking to get some gas. >> also, of costco open from 9:00 a.m.-5:00 a.m. macy's closes at 6:00 and canno tonigh and what else is that they are a bit concerned on a shopping. but for a week and was strong percent. but analysts says sales fell 4-point-3 percent for the week ending december 15th. and last week they forecasted holiday spending to decrease another 2-point- 5 percent. previous expectations were for a 3-point-3 percent increase in spending. >> this live look from our roof cam. video from san mateo sent by one of our viewers. as rain poured into a hillsdale mall parking lot. look at all the water. you can see it rushing down the steps of the stairwell. causing the surrounding area to partially flood. no one was able to walk down tho
of the driving force was the fiscal cliff. expect low trading volume with wall street closing at 10:00 a.m. our time, 1:00 p.m. on the east coast. we will watch and wait. >> it is crunch time for last-minute shopping as you know. and you better know. this deadline is firm if you are still looking to get some gas. >> also, of costco open from 9:00 a.m.-5:00 a.m. macy's closes at 6:00 and canno tonigh and what else is that they are a bit concerned on a shopping. but for a week and was...
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investors will have to wait for news on the fiscal cliff until after christmas. that uncertainty is pushing markets lower. the s & p 500, all down this morning. trading expected to be light with high volatility today. and markets close early at 1:00 p.m. eastern. >>> and a red alert for a possible volcanic eruption in chile. the volcano hits high in the andes mountains and might be poised to blow. so far, chile's geological service has not sent out a mandatory evacuation order. >> prince harry killed his first taliban fighter in afghanistan, as he flew to the rescue of a patrol under attack. defense sources deny reports that he killed a taliban commander, but admitted he had deployed his weapon. the prince is nearing an end of a four-month tour of duty in hellman province. >>> and a judge has sign off on the bp settlement regarding the gulf oil spills. bp expects to pay out 7$7.8 billion. it includes thousands of claims of businesses and individuals in five states on the gulf of mexico. bp faces many other lawsuits, including a major civil trial in february. >>>
investors will have to wait for news on the fiscal cliff until after christmas. that uncertainty is pushing markets lower. the s & p 500, all down this morning. trading expected to be light with high volatility today. and markets close early at 1:00 p.m. eastern. >>> and a red alert for a possible volcanic eruption in chile. the volcano hits high in the andes mountains and might be poised to blow. so far, chile's geological service has not sent out a mandatory evacuation order....
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worries over the fiscal cliff showed nasdaq lost 8. the market will reopen. >>> it indicates the social media giant funneled money into a sister company and the move is known as a double irish move to use the money for subsidiaries to pay lower taxes. >>> more than 92,000 people rolled the ferry to at&t park this past championship season. this is the first time they have had 92,000 or more. back in 2009 only 60,000 people rode the giant's ferry. >>> muni is getting some help for some hackathons. they are focusing their skills to help with scheduling programs. one of the most promising features shows the realtime location of buses and maps and now it is being tried out at the station. and gas prices are at its lowest with the average for regular at $3.25 per gallon. and it is more than a dime cheaper in san jose and almost down a dollar 20 from last year. >>> many bought a ticket worth $23 million. the ticket had all five numbers and was sold at sunshine center at pharmacy in south san francisco. that store will receive $115,000 for sel
worries over the fiscal cliff showed nasdaq lost 8. the market will reopen. >>> it indicates the social media giant funneled money into a sister company and the move is known as a double irish move to use the money for subsidiaries to pay lower taxes. >>> more than 92,000 people rolled the ferry to at&t park this past championship season. this is the first time they have had 92,000 or more. back in 2009 only 60,000 people rode the giant's ferry. >>> muni is...
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lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbs, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could not go any further. lou: and he didn't. the plan be option collapsing last night when he failed to get republican support to raise taxes on only those making more than a million dollars a year. over in the senate majority leader harry reid pounced on the very public embarrassing defeat. >> we knew the so-called plan b was no plan at all. it could not pass the senate. it turns out, it could not pass the house either. it is too bad speaker boehner wasted a week in his political stunt. lou: if there is no agreement, taxes will go up on all american taxpayers an
lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbs, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he...
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over the weekend, is there a plan c on the fiscal cliff floating around. the only offer that's really on the table, and i hate to get so simplist simplistic, was the president's offer. he mentioned it at the press conference late friday afternoon, and that's raise taxes on the top 2%. that's basically the offer on the table. there's a lot of people trying to throw in a lot of spending cuts into a so-called plan c, raise the medicare eligibility age from 65 to 67. that's really an afterthought going in right now. the president's offer is the one on the table right now. at this point the choices are getting very, very narrow. i didn't hear do nothing. i didn't hear about a grand bargain. the other big thing over the weekend, i was getting a lot of e-mail about, is when will the treasury department declare they've run out of the capability to borrow money. certainly by the end of february, everybody knows that. but some people think it could happen sooner than that. that will bring up the whole issues about the rating agencies coming out with warnings of a do
over the weekend, is there a plan c on the fiscal cliff floating around. the only offer that's really on the table, and i hate to get so simplist simplistic, was the president's offer. he mentioned it at the press conference late friday afternoon, and that's raise taxes on the top 2%. that's basically the offer on the table. there's a lot of people trying to throw in a lot of spending cuts into a so-called plan c, raise the medicare eligibility age from 65 to 67. that's really an afterthought...
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. >>> will the new year bring new taxes? that is the fear if we fall off the fiscal cliff. despite the warnings from main street and wall street, both sides in washington are still refusing to compromise. they have seven days to reach a deal. >>> his doctors are optimistic but they aren't ready to release former president george herbert walker bush. the 88-year-old will stay in a houston hospital over christmas. mr. bush was treated for bronchitis in early november. >>> and not what anyone wants for christmas. forecasters say a major tornado outbreak could sweep across the southern part of the u.s. tomorrow. there are extreme weather fears for much of the country. stay with cnn for the very latest. i'm natalie allen with a look at the headlines this christmas eve. now back to "the two marys." [ bells tolling ] >>> each year on the feast of mary magdalene, pilgrims in the french hill town of vezelay march to a huge basilica carrying a relic of the saint. a piece of her rib, the tradition says, is one of the few clues to her fate. mary magdalene disappears from the gospels af
. >>> will the new year bring new taxes? that is the fear if we fall off the fiscal cliff. despite the warnings from main street and wall street, both sides in washington are still refusing to compromise. they have seven days to reach a deal. >>> his doctors are optimistic but they aren't ready to release former president george herbert walker bush. the 88-year-old will stay in a houston hospital over christmas. mr. bush was treated for bronchitis in early november....
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stocks sank friday as the economy inches closer to the fiscal cliff. the dow down 120. the nasdaq down 29. still the stock market is on track for its fourth straight year of gains. the dow sup nearly 8%. the -- is up nearly 8%. the nasdaq has rallied more than 15%. so far this year. the stock market is closed for christmas. more economic reports to sift through the rest of the week, including home prices and sales and consumer confidence and jobless claims. >>> washington's failure to agree on a budget is affecting americans's confidence in finances. consumer sentiment index for december fell sharply from november's five-year high. more than one in four people surveyed cited concerns about higher taxes. before we go to break, i want to tell you again to donate to st. jude's children's hospital and help the courys' dream come true. text light at 5 -- text life to 50333 to donate $10. >>> redskins hang on to victory over the eagles. rg3's return and his playoff implications. we'll be right back. >>> howard here with your weather first. going to be a raw day. rain will be
stocks sank friday as the economy inches closer to the fiscal cliff. the dow down 120. the nasdaq down 29. still the stock market is on track for its fourth straight year of gains. the dow sup nearly 8%. the -- is up nearly 8%. the nasdaq has rallied more than 15%. so far this year. the stock market is closed for christmas. more economic reports to sift through the rest of the week, including home prices and sales and consumer confidence and jobless claims. >>> washington's failure to...
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should put her to work on the fiscal cliff deal. besides being the leader of catholic church, pope benedict xvi is challenged author. it challenges part of the traditional nativity scene. we look another faith and facts surrounding the first christmas. ♪ ♪ >> reporter: pope benedict xvi dons the scholar hat in the latest booth. book, exploring the christmas story as event in history. >> gospel story of jesus is historical. pope distinguishes that. symbolic approach. like when augustus is emperor of rome he situates this at specific time. it's unlike mythic language like once upon a time. or "star wars" long, long ago in galaxy far,f away. >> he was a prolific author before becoming pope. but this book had an initial printing of unprecedented million copies in nine languages and hitting bookstores in 50 countrys. >> he takes a study of the iconic images. animals in the manger. neither one of the two gospels that contain the birth narrative matthew and luke mentions them present. >> he points out in the gospel story itself you don
should put her to work on the fiscal cliff deal. besides being the leader of catholic church, pope benedict xvi is challenged author. it challenges part of the traditional nativity scene. we look another faith and facts surrounding the first christmas. ♪ ♪ >> reporter: pope benedict xvi dons the scholar hat in the latest booth. book, exploring the christmas story as event in history. >> gospel story of jesus is historical. pope distinguishes that. symbolic approach. like when...
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. >> >> fiscal cliff talks, without a deal, automatic tax hikes and spending cuts would kick in january 1st, affecting almost all americans. democrats and republicans insist they are committed to reaching a deal. congress returning to washington the day after christmas. senator from hawaii, laid to rest. president obama and the first lady attended the memorial service. he was the first japanese american elected to both houses of congress and the second largest serving u.s. senator. he was 88 years old. >> back here in maryland a police shooting in baltimore county, a police officer opened fire, killing a man who had a knife. that's where derrick is tonight with the details. >> reporter: police say the officer was acting in self- defense when he confronted and shot a suspicious man he found back here behind this gas station. it all started with an officer on routine patrol as he passed the shell gas station at ed monton around 3:45 in the morning. he noticed a suspicious man behind the building. police say when the officer asked the man to come out from behind the building, the man pulle
. >> >> fiscal cliff talks, without a deal, automatic tax hikes and spending cuts would kick in january 1st, affecting almost all americans. democrats and republicans insist they are committed to reaching a deal. congress returning to washington the day after christmas. senator from hawaii, laid to rest. president obama and the first lady attended the memorial service. he was the first japanese american elected to both houses of congress and the second largest serving u.s. senator....
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it is before christmas ap efforts on the fiscal cliff put on hold. leaders claiming they'll be willing to go back to work and work toward a deal, but john boehner says the white house proposal doesn't quite go far enough to reduce massive government spending. failure to reach an agreement by december 31st will trigger tax hikes and spending cuts as you know by now. final results expected tomorrow in egypt's constitutional referendum. there have been weeks of protest over the constitution there, which opponents say gives too much power to the president and his supporters. egypt's vice-president just resigned and we know that that constitution has passed now. it eliminates his position and there's also word that the governor of egypt's central bank quit this weekend as well. i'm harris falkner, now back to huckabee. ♪ >> the pro-lifers whose pro he abortion debate has been heating up in ireland after the death of a pregnant indian woman. she was admitted to the hospital in pain. and asking for aabortion, believing she miscarried the baby. the doctors
it is before christmas ap efforts on the fiscal cliff put on hold. leaders claiming they'll be willing to go back to work and work toward a deal, but john boehner says the white house proposal doesn't quite go far enough to reduce massive government spending. failure to reach an agreement by december 31st will trigger tax hikes and spending cuts as you know by now. final results expected tomorrow in egypt's constitutional referendum. there have been weeks of protest over the constitution there,...
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the fiscal cliff. we have broken our newsroom into four groups. one to monitor the potential impact on the local economy, a second to prepare you for what could happen to you and your family, a third will help you take action and the fourth will hold lawmakers accountable. you can get alerts sent straight to your phone about all our fiscal cliff notes by texting the cliff to 525 eowe to 25 -- the cliff to 25543. >>> time for your money segment of the morning. it is the final trading week of the year for the stock market. the fiscal cliff is scaring investors. stocks sank friday as the economy inches closer to going over the edge. the dow was down 120 points. the nasdaq down 29. the s&p slipped 13 and a half points. >>> the stock market is on track, though, for its fourth straight year of gains. the dow is up overall nearly 8%. the nasdaq has rallied more than 15% so far this year. the stock market is closed tomorrow for the christmas break. there will still be plenty of economic reports to sift through
the fiscal cliff. we have broken our newsroom into four groups. one to monitor the potential impact on the local economy, a second to prepare you for what could happen to you and your family, a third will help you take action and the fourth will hold lawmakers accountable. you can get alerts sent straight to your phone about all our fiscal cliff notes by texting the cliff to 525 eowe to 25 -- the cliff to 25543. >>> time for your money segment of the morning. it is the final trading...
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Dec 24, 2012
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it is the fiscal cliff countdown and time is running out. if president obama and house speaker boehner don't strike a deal by new year's, you'll be paying higher taxes. while both sides play the blame game in washington, wall street takes a tumble today, with jittery investors selling off stocks. >>> we are learning new details about the man who shot two firefighters to death in upstate new york today. police say william spangler killed the firefighters and wounded two others while they were responding to an early morning blaze. spangler, who committed suicide at the scene, was convicted in 1981 of killing his grandmother. authorities still don't have a motive for today's shooting. >>> and millions face a christmas filled with extreme weather. forecasters are warning of a potential tornado outbreak across the south tomorrow. the severe storm system could then bring more dangerous weather from florida all the way up to virginia. >>> that's a quick look at the top headlines. i'm natalie allen in atlanta. now back to "the mystery of jesus." ♪
it is the fiscal cliff countdown and time is running out. if president obama and house speaker boehner don't strike a deal by new year's, you'll be paying higher taxes. while both sides play the blame game in washington, wall street takes a tumble today, with jittery investors selling off stocks. >>> we are learning new details about the man who shot two firefighters to death in upstate new york today. police say william spangler killed the firefighters and wounded two others while...
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Dec 24, 2012
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>>> maybe eight days and counting before a fiscal cliff. will a shift too the senate save the day? then paradise lost. will president obama leave hawaii behind the day after christmas if a deal is in the works and the election hangover. new comments from one of mitt romney's sons that you might describe as puzzling. what do they really mean? and the gun battle rages on. new reports on why nothing may get done even after the sandy hook tragedy. >>> a massive tax hike and spending cuts -- republicans and democrats continue to point fingers in opposite directions, hinting that talks could go into the new year. >> are we going over the cliff? >> i believe we are, and i think the president is eager to go over the cliff for political purposes. he senses a victory at the bottom of the cliff. >> we only have nine days left here. when are we going to get serious about actual solutions? i would welcome john to tell me. he says he wants a solution. give us one, john. >> meanwhile, president obama is spending christmas in hawaii where he and the first lady attended the holiday memorial service
>>> maybe eight days and counting before a fiscal cliff. will a shift too the senate save the day? then paradise lost. will president obama leave hawaii behind the day after christmas if a deal is in the works and the election hangover. new comments from one of mitt romney's sons that you might describe as puzzling. what do they really mean? and the gun battle rages on. new reports on why nothing may get done even after the sandy hook tragedy. >>> a massive tax hike and...
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Dec 24, 2012
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cliff. mother nature took a toll on several parts of the country this year. superstorm sandy ripped through the northeast in late october, leaving a trail of damage along the way. the storm racked up damage of around $60 billion, making it the second most expensive storm ever for the u.s., following hurricane katrina. the storm destroyed houses and businesses on the east coast, leaving millions without power. just months earlier, crop prices shot up following a massive drought that hit the midwest and some northern states. weeks without rain sent corn and soybean prices sky-high. it was estimated that the drought was the worst in nearly a quarter of a century. 2012 was not without its controvesies. trading scandals rocked the news, highlighted by jpmorgan chase. the big bank lost more than $2 billion in what was called "a trading debacle." ceo jamie dimon took a trip to capitol hill for a testimony where he told senators that the industry needs "strong regulation, not always more." meanwhile
cliff. mother nature took a toll on several parts of the country this year. superstorm sandy ripped through the northeast in late october, leaving a trail of damage along the way. the storm racked up damage of around $60 billion, making it the second most expensive storm ever for the u.s., following hurricane katrina. the storm destroyed houses and businesses on the east coast, leaving millions without power. just months earlier, crop prices shot up following a massive drought that hit the...
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Dec 24, 2012
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. >> so does all the drama over the fiscal cliff and uncertainty about the economy weigh on consumers? how are you expecting the season to play out? >> well, i don't have any doubt that it does weigh on consumers, it's in the news constantly, people are worried about it, but having said that, we're talking about christmas here. this is no minor holiday. so christmas is going to come on tuesday. it is christmas day. and consumers have to get shopping. and the last thing that parents want to cut back on is the toy is the holiday present for their child for christmas. >> true. so i want to go through the toys you brought. what are you expecting in terms of this christmas holiday shopping season? anything we should look at as far as the real gauges? >> well, you know, it's all going to come down to the last weekend, to the last few days. >> even christmas eve. >> even christmas eve. and toys"r"us, just to make sure, we are open 24 hours all the way through until 10:00 p.m. christmas eve night. so there's still plenty of time, if you haven't bought the toy, get out there now, get off the c
. >> so does all the drama over the fiscal cliff and uncertainty about the economy weigh on consumers? how are you expecting the season to play out? >> well, i don't have any doubt that it does weigh on consumers, it's in the news constantly, people are worried about it, but having said that, we're talking about christmas here. this is no minor holiday. so christmas is going to come on tuesday. it is christmas day. and consumers have to get shopping. and the last thing that parents...
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Dec 24, 2012
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cliff. members of congress are still pointing firngs over who is to blame for the lack of progress. meanwhile, connecticut's independent senator, joe lieberman expects congress to work right up until the new year's eve deadline. he's not sure that will be enough. >> it's first time i'm more likely that we'll go over the cliff than not. if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. >> the president and congress are on short holiday breaks. they're due back later in the week. one possibility in all of this mess is a partial deal on taxes while putting off agreement on spending until some time down the road. >>> former president george h.w. bush may be spending thanksgiving in the hospital. he's been there since thanksgiving. he's battling bronchitis and a lingering cough. >>> south africans are sending warm wishes to former president nelson mandela. he's been in the hospital f two weeks with a lung infection. he's s
cliff. members of congress are still pointing firngs over who is to blame for the lack of progress. meanwhile, connecticut's independent senator, joe lieberman expects congress to work right up until the new year's eve deadline. he's not sure that will be enough. >> it's first time i'm more likely that we'll go over the cliff than not. if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. >> the president and...